Gold prices continued their ascent for the third consecutive day on Wednesday, buoyed by a weaker US dollar and falling oil prices. Investors are closely anticipating key US jobs data to gauge the Federal Reserve's future monetary policy path. Spot
gold prices rose 1.3% to $4127.04 per ounce, while US gold futures climbed 0.8% to $4184.40 per ounce. The depreciating dollar enhances gold's appeal to holders of other currencies, and lower oil prices strengthen expectations of easing inflationary pressures, potentially
influencing interest rate decisions. Kelvin Wong, Senior Market Analyst at OANDA, noted that a sustained decline in geopolitical tensions could further support gold prices, given the close link between oil movements and global inflation forecasts. Among other precious metals, spot
silver prices advanced 1.9% to $60.64 per ounce, platinum gained 1.4% to $1758.35, and palladium increased 0.9% to $1365.62 per ounce.
